Improve ‘on-time’ payments with tracked Invoicing
In today’s fast-paced business environment, ensuring timely payments is crucial for maintaining healthy cash flow.
What is tracked invoicing, and how does it improve on-time payments?
Tracked invoicing uses EDI and API connectivity to replace a “send and forget” approach with a “send and track” one, giving suppliers real-time visibility into whether an invoice has been delivered, is pending or has failed. This lets a business fix delivery failures or data errors before a payment deadline arrives, supporting healthier cash flow and fewer manual interventions chasing missing payments.
This lack of visibility can result in delayed payments, disrupted operations, and unnecessary manual interventions. By leveraging EDI and API connectivity, businesses can transform their invoicing process into a “send and track” model, providing real-time insights into invoice delivery, status updates, and potential errors.
This proactive approach enables businesses to address issues before payment deadlines arrive, ensuring smoother cash flow and reducing administrative burdens.
From Standard to Tracked: A simple analogy
Think of it like sending a letter via standard postal service versus using Tracked 24 service. With standard mail, you send it and hope it arrives. If it gets lost or delayed, you might not find out until much later. With tracked mail, you receive updates on its journey, ensuring it reaches its destination without issues.
The same principle applies to tracked invoicing, instead of sending an invoice and hoping for the best, you receive notifications if there are delivery failures, data errors or system dropouts.
This means you can take corrective action immediately, preventing payment delays and improving overall efficiency.
Key benefits of tracked invoicing
1. Enhanced cash flow management
- Avoid payment delays by ensuring invoices are received and processed on time.
- Get real-time updates on invoice delivery status.
2. Reduced manual interventions
- Minimise time spent chasing missing payments.
- Resolve issues proactively rather than reactively.
3. Error notifications before they impact payment
- Identify and fix delivery failures before the due date arrives.
- Prevent common issues such as formatting errors, missing fields, or system failures.
- Enhance compliance by simplifying VAT reporting, including pre-filled returns.
4. Stronger supplier-customer relationships
- Demonstrate reliability by ensuring seamless invoicing.
- Foster trust and transparency in B2B transactions.
A smarter way to monitor invoicing
For businesses looking to eliminate invoicing uncertainties, tracked invoicing solutions provide an end-to-end way to monitor invoice journeys. With these solutions, companies gain:
- Real-time status tracking:
Know if invoices are delivered, pending, or failed. - Root cause identification:
Pinpoint precisely where an error occurred. - Seamless integration:
Connects with existing systems without disruption.
By integrating EDI and API technology, businesses can transition from reactive invoicing processes to a proactive, data-driven approach, ensuring smoother financial operations and reducing risks of late payments.
Take control of your invoicing today.
Invoicing should never be a guessing game. With tracked invoicing, businesses gain the transparency and control needed to improve cash flow, reduce operational headaches, and maintain strong financial health.
Don’t let lost or delayed invoices disrupt your business. Make the switch to a “send and track” invoicing process today.
Get in touch
Don't let invoicing uncertainties impact your cash flow. Take control with tracked invoicing - schedule a meeting with our experts today and discover how we can streamline your payment processes.
Independent evidence that visibility speeds up payment
This is not just a theoretical benefit. A 2018 report by credit insurance specialist Atradius UK found that two thirds of suppliers achieved faster payments once they adopted eInvoicing. With better visibility over where an invoice stood in the process, they were able to minimise the cost of managing their supply and distribution networks and keep their cashflow healthier as a result.
A recognised standard behind the technology
Your invoice tracking is also backed by independent accreditation. Transalis is accredited to EURINV19, a common electronic invoicing standard developed through an EU project, so the tracking and status data behind your invoices follows a recognised, consistent format that gives trading partners further confidence in the process.
Frequently asked questions
- How is tracked invoicing different from standard invoicing?
Standard invoicing works like ordinary post: you send an invoice and hope it arrives, and if it goes missing you may not find out until it is too late. Tracked invoicing works like a tracked delivery service, sending notifications if there is a delivery failure, a data error or a system dropout, so you can act immediately instead of discovering the problem after a payment is already overdue.
- What is the evidence that invoice visibility speeds up payment?
A 2018 report by credit insurance specialist Atradius UK found that two thirds of suppliers achieved faster payments once they adopted eInvoicing. With better visibility over where each invoice stood in the process, they were able to minimise the cost of managing their supply and distribution networks and keep cash flow healthier as a result.
- What does root cause identification mean for a failed invoice?
It means pinpointing precisely where in the process an invoice failed to reach its destination, rather than simply knowing that it did not arrive. Combined with real-time status tracking and seamless integration into existing systems, this turns invoicing from a reactive, uncertain process into a proactive, data-driven one that reduces the risk of late payment.
- What standard backs the tracking data behind Transalis invoicing?
Transalis is accredited to EURINV19, a common electronic invoicing standard developed through an EU project. This means the tracking and status data behind each invoice follows a recognised, consistent format, giving trading partners further confidence that the process behind a tracked invoice is reliable.
Read next
- 16 August 2023OCR vs IDP: improve your document transformation processUnlike OCR (Optical Character Recognition), IDP (Intelligent Document Processing) utilises AI and computer learning to ensure higher levels…Read more
- 14 August 2023Switching to a paperless Accounts Payable processBusinesses are switching to a paperless Accounts Payable process to gain more control on internal processes, including cost and efficiency.Read more
- 17 December 2020What is eInvoicing? Why a PDF is not one and how Peppol worksEmailing a PDF is not eInvoicing. Learn what makes an invoice structured, how it crosses the Peppol network, and where Belgium, France and…Read more